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Partner on Left

Explore the contrasting economic systems on the Korean Peninsula - command economy in North Korea and market economy in South Korea - and the impact on their respective development, living standards, and cultural influences.

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Partner on Left

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  1. Partner on Left Partner on Right Resources Scarcity Capitalism/ Free Mrket Economics Opportunity Cost Socialism/Command Economy

  2. The Korean Peninsula

  3. I. Divided Korea A. At the end of world War II Japan lost Korea. B. After the war: Soviet Union occupied the North US occupied the South

  4. C. Korea was suppose to become unified and independent but the occupying countries could never work out an agreement D. They therefore set up separate governments and economic systems.

  5. E. The two sides fought a war which ended in a draw, the DMZ zone was established. • A 51 mile long no-man’s land of mines, barbed wire, tank traps and underground tunnels

  6. II. Government • North Korea is ran by a tightly controlled communist government. B. South Korea’s form of government in a representative democracy

  7. III. Economy • North Korea has a command economy, the government owns and operates almost all aspects of the economy 1. North Koreans, are on average 15 times poorer than their southern counterparts. 2. North Korea has close economic ties with China

  8. B. South Korea has a capitalist (market) economy, in which prices are set by supply and demand. 1. South Koreas has a much more prosperous economy than North Korea 2. South Korea has close economic ties with the United States

  9. IV. Culture A. Both North and South Korea have adapted many ideas from China Diffusion Chinese culture Koreans adopt Chinese culture

  10. A. Culture of North Korea 1. Communism has molded the culture of North Korea 2.The North Korean government only allows art that glorifies communism or the folk tradition 3. North Korea’s culture is heavily influenced by the military

  11. B. Culture of South Korea B. South Korean artist have more freedom and often draw from their own culture as well as the Western art

  12. Inside North Korea • What was the most interesting or insightful thing somebody said in your group? Who said it. 2) What was the best question asked in your group? Who said it? 3) Did the seminar change your views about any part of the film? Why or why not?

  13. North Korea Paragraphs Prompt: How well does North Korea’s economic system work? • Introduction -Explain the history of how Korea became divided. Use your notes and readings. -Define the type of economic system North Korea has. -Thesis: Your answer to to the prompt. Give multiple categories. Be specific! II. Body Paragraph (focus on one economic factor) -Topic Snetence (should make a more specific argument than thesis) Don’t say I think, I feel or I believe!!!

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